W. Africa Crude-Angolan cargoes close to selling out on Chinese demand

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 13 (Reuters) - Angola's cargoes for March loading were closer to selling out on Monday, traders said, reflecting an increase in demand from top customer China.
* Around 4-5 March-loading cargoes of Angolan crude remained unsold, ahead of export plans for April due around the end of this week, down from Friday's estimate of more than five. Details did not immediately emerge of recent deals.
* The March trading cycle has been one of the fastest selling in months, traders said, after an increase in Chinese demand after COVID restrictions were scrapped.
* Vitol has yet to find a buyer for a cargo of Angolan Dalia - a partial cargo offered on a delivered basis, a trader said.
* On Nigerian crude, Exxon was heard to have kept a cargo of Qua Iboe being offered at dated Brent plus $5.00 for its own refining system. One trader expected subsequent offers of the grade to be lower. (Reporting by Alex Lawler; Editing by Shailesh Kuber)

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